History and Evolution of Notes in Hong Kong

Bank of China (Hong Kong) Limited issues the “Commemorative Banknote of the Olympic Winter Games Beijing 2022” with a face value of $20.

It is the first time that the thematic subjects on the reverse side of the note-issuing banks’ new series banknotes are standardised for each denomination to facilitate easy recognition by the public. 

For aesthetic presentation of the subject and easy distinction from previous series, the reverse side of the banknotes is in vertical orientation rather than the traditional horizontal layout.

$1000: Hong Kong as an international financial centre

$500: Hong Kong UNESCO Global Geopark

$100: Cantonese opera

$50: Butterflies that inhabit Hong Kong

$20: Dim sum and tea culture

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Bank of China (Hong Kong) Limited issues the “Bank of China (Hong Kong) Centenary Commemorative Banknote” with a face value of $100. 

The Hongkong and Shanghai Banking Corporation Limited issues the “150^th Anniversary Banknote” with a face value of $150. 

Bank of China (Hong Kong) Limited issues the “Commemorative Banknote in Celebration of the Centenary of Bank of China” with a face value of $100. 

The 2010 Series Banknotes incorporate advanced security features, the locations of which are standardised across all five denominations. The banknotes also carry accessibility features with strong embossed feel to help the visually impaired differentiate the denominations.

Each of the three note-issuing banks has its own design theme.

Standard Chartered Bank (Hong Kong) Limited: Heritage and technology

The Hongkong and Shanghai Banking Corporation Limited: Celebrations which take place in Hong Kong

Bank of China (Hong Kong) Limited: Hong Kong’s natural scenery

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Standard Chartered Bank (Hong Kong) Limited issues the “Standard Chartered Hong Kong 150^th Anniversary Commemorative Charity Banknote” with a face value of $150. 

Bank of China (Hong Kong) Limited issues the “Beijing 2008 Olympic Games Hong Kong Dollar Commemorative Banknote” with a face value of $20. 

Commemorative banknotes, though not intended for use in daily transactions, are also legal tender. They are available for public sale at a price above the face value, with all net proceeds donated to local charitable and community causes.

The $10 polymer note enters circulation alongside the paper note.  Polymer notes are cleaner, more durable, and more environmental friendly.

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The three note-issuing banks launch the 2003 Series Banknotes, all featuring Hong Kong’s attractions as the design theme and standardising the colour of the same denomination for easy identification.

Standard Chartered Bank (Hong Kong) Limited: Changing faces of the Peak and Victoria Harbour over the years

The Hongkong and Shanghai Banking Corporation Limited: Hong Kong’s landmarks and landscapes

Bank of China (Hong Kong) Limited: Iconic architectural buildings in Hong Kong

$1000:     yellowish gold

$500:       brown

$100:       red

$50:         green

$20:         blue

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The Government, through the HKMA, issues new $10 notes.  The note is purple in colour, hence nicknamed “colourful crab”.

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The Government 1-cent note ceases to be legal tender.

The size of banknotes for the same denomination is standardised.

Banknote size: from huge to handy

A banknote issued before the 1950s measured more than twice the size of today's banknote.  These banknotes were commonly known in Chinese as “the big blanket”, reflecting their large size.  The size of the banknotes has gradually been reduced since 1959.

Standard Chartered Bank begins issuing $20 banknotes, followed by The Hongkong and Shanghai Banking Corporation in 1986.

The Hongkong and Shanghai Banking Corporation prints the first $1,000 banknote.

With the exception of 1-cent notes, all paper notes issued by the Government cease to be legal tender in Hong Kong.

The $1 note is printed with the portrait of Queen Elizabeth II.

During the Japanese occupation of Hong Kong, there is a huge demand for metal to produce weapons and ammunition.  Coins are in short supply and therefore the Government issues 1-cent, 5-cent and 10-cent notes. Later, the local currencies are mostly replaced by Japanese military notes.

The $1 note is printed with the portrait of King George VI.

The first Government note is issued to replace the $1 banknote printed by The Hongkong and Shanghai Banking Corporation.

The patterns on banknotes mostly feature drawings of China’s scenery, buildings or mythical figures.

The design of the early banknotes is relatively simple, closely following the format of bank drafts and usually printed with the issuing bank’s coat of arms.

The first Hong Kong banknote, denominated in $5, is issued.  The size of the banknote is relatively large.  People have to fold it several times before putting it in their wallets, leading to its nickname “the big blanket”.